$SOL – Post-Drop Rebound: Relief Rally or Bear Trap?
Brothers, if you’re feeling the pain from the recent drop, you’re not alone. After a steep fall from $93 to $67.5, SOL has shown a clear technical rebound. However, the overall structure remains bearish.
Current Technical Picture:
Price Action: SOL has retraced to the BOLL midline after a sharp decline.
Momentum Indicators: RSI is showing short-term overbought signals on lower timeframes.
Volume Profile: The rebound has not been accompanied by increasing volume, suggesting weak follow-through buying.
Key Resistance Zone: The $82–$83 area is a critical test for bulls. A failure to stabilize above this zone would signal that the bounce is corrective, not a reversal.
Market Outlook:
This move is interpreted as a pullback within a larger downtrend rather than the start of a new uptrend. Until the price can reclaim and hold above the $82–$83 resistance with conviction, the bias remains toward a second leg down after the rebound loses steam.
Personal Strategy (Not Financial Advice):
Monitoring for a potential short entry near resistance, with a strict stop-loss above the key $83 level to manage risk.
